Maverick Capital Ltd. Takes $1.07 Million Position in Canadian National Railway (NYSE:CNI)

Maverick Capital Ltd. acquired a new stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,088 shares of the transportation company's stock, valued at approximately $1,065,000.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway during the 2nd quarter worth about $26,000. Addison Advisors LLC increased its holdings in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock valued at $28,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC raised its stake in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock valued at $30,000 after buying an additional 229 shares in the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway during the 2nd quarter worth about $34,000. Finally, Coastline Trust Co acquired a new stake in shares of Canadian National Railway during the 3rd quarter valued at about $34,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CNI shares. Wells Fargo & Company raised shares of Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price target for the company in a research report on Monday, October 7th. Royal Bank of Canada raised Canadian National Railway from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Evercore ISI lowered their target price on Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a research note on Wednesday, October 23rd. Susquehanna cut their price target on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Finally, Veritas raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of "Hold" and a consensus target price of $125.86.

Canadian National Railway Price Performance

CNI traded up $0.43 during trading on Friday, hitting $111.69. 551,866 shares of the stock traded hands, compared to its average volume of 1,226,322. The business has a 50 day moving average price of $112.39 and a 200 day moving average price of $116.57. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Canadian National Railway's revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. Canadian National Railway's payout ratio is currently 39.90%.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.